HelloWallet

The case examines HelloWallet, online, independent financial advisory services within the behavioral finance concepts. It deals with the specific challenges faced by online personal financial management (PFM) systems. In addition, the case has the ability to save money with a detailed overview of American household finances, including data on Americans, preparedness for retirement, and the level of financial literacy. HelloWallet offers a wide range of services, including PFM, financial planning, … Read more »

The case examines HelloWallet, online, independent financial advisory services within the behavioral finance concepts. It deals with the specific challenges faced by online personal financial management (PFM) systems. In addition, the case has the ability to save money with a detailed overview of American household finances, including data on Americans, preparedness for retirement, and the level of financial literacy. HelloWallet offers a wide range of services, including PFM, financial planning, to aggregate a system user accounts, and an application to allow users to find financial products that better deals than their current values. Although not the first to market with this type of service, HelloWallet differed in three major ways. First, it was independent, which means it does not receive monetary incentives of financial institutions to push their products, nor has it received payments (ie, commissions) when individuals purchase decisions. Second, it seemed to help more than 130,000 financial products, users can find the best products for them, compared to its competitors that sought by a much smaller number of products. Third, because it was independent, she used a subscription model, where individuals pay a monthly fee. The case is expected in March 2010, shortly after the beta launch of HelloWallet website, and it examines two key questions has to fight HelloWallet with: 1) how its product range for its two different channels prize – the direct-to-consumer channel and the company – channel. and 2) How proportionally allocate its resources for the two channels
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from
Debra Schifrin,
John Beshears
Source: Stanford University
15 pages.
Release Date: 10 February 2011. Prod #: F275-PDF-ENG
HelloWallet HBR case solution